... Installment Sales in 2007 Installment Sales Method 6 5- 16Installment Sales Method20 05 22 ,50 0 45, 000 20 05 2006 11, 250 2007 11, 250 - Deferred Gross Profit 20 05 2007 40,000 55 ,000 2007 15, 000 Deferred ... 1 Copyright â 2007 by The McGraw-Hill Companies, Inc. All rights reserved. Income Measurement and Profitability Analysis 5 5-2Learning ObjectivesDiscuss the general objective of the timing of ... gross profit 2007 40,000 Realized gross profit 57 , 250 General Journal20 05 50,000$ ì 22 .50 % = 11, 250 $ 2006 25, 000 ì 24.00% = 6,000 2007 200,000 × 20.00% = 40,000 2 75, 000$ 57 , 250 $ Cash Collection...